The global chemical surface treatments market is projected to grow from USD 11.18 Billion in 2017 to USD 14.74 Billion by 2022, at a CAGR of 5.7% from 2017 to 2022. Companies such as Platform Specialty Products Corporation (US), NOF Corporation (Japan), Atotech Deutschland GmbH (Germany), Henkel AG & Co. KGaA (Germany), Chemetall, Inc. (Germany), Nihon Parkerizing Co., Ltd. (Japan), and PPG Industries, Inc. (US) have adopted both, organic as well as inorganic strategies such as new product & technology launches, joint ventures & acquisitions, investments & expansions, and agreements to serve their customers efficiently and increase their market shares in the chemical surface treatments market.
The growth of the chemical surface treatments market across the globe is fueled by the increasing use of chemical surface treatments in various end-use industries to reduce corrosion of materials as well as enhance properties of base materials that include their appearance, wettability, tarnish resistance, wear resistance, electrical conductivity, electrical resistance, reflexivity, torque tolerance, hardness, and chemical resistance. Moreover, the rising Gross Domestic Product (GDP), growing global population, and improving economic conditions of various countries of the world are factors expected to fuel the demand for consumer appliances across the globe, which, in turn, is expected to contribute to increased demand for chemical surface treatments.
The plastics base material segment is projected to lead the chemical surface treatments market between 2017 and 2022. Plastics are replacing metals in various industries such as transportation and general industry, owing to various advantages offered by them that include lower costs, lower maintenance requirements, simplified designs, lightweight, and better chemical resistance over metals. Due to these properties, several end-use industries consider plastics more sustainable option than metals.
